LIC New Money Back 25 Year Plan (721)
Premium Calculator
| PLAN DETAILS | |
|---|---|
| Sum Assured | |
| Age | |
| Policy Term | |
| AD & DB Rider | |
| Term Rider | |
| PREMIUM DETAILS GST Included | |||
|---|---|---|---|
| Mode | Premium | GST | Total |
| Yearly | ₹ 0 | ||
| Half-Yearly | ₹ 0 | ||
| Quarterly | ₹ 0 | ||
| Monthly | ₹ 0 | ||
| MATURITY DETAILS | |
|---|---|
| Total Paid Premium | |
| 1st Money Back (Year 5) | |
| 2nd Money Back (Year 10) | |
| 3rd Money Back (Year 15) | |
| 4th Money Back (Year 20) | |
| 40% of Sum Assured | |
| Bonus (Approx) | |
| FAB (Approx) | |
| Total Maturity (After 20 Years) | |
| Total Benefits Received | |
Important Notes
Bonus & FAB are indicative and based on latest declared rates of Plan 820 and 920.
LIC New Money Back 25 Year Plan (721) – Introduction
LIC New Money Back Plan 25 Years (Plan No. 721) is a participating life insurance plan that offers a combination of periodic returns and life protection. This plan is ideal for individuals who want regular cash flow along with financial security for their family.
Under this plan, the policyholder receives survival benefits at regular intervals during the policy term. Along with these payouts, the policy continues to provide risk cover throughout the term.
At maturity, the remaining portion of the Sum Assured along with accrued bonuses is paid, helping in long-term financial planning.
Eligibility – LIC Money Back 25 Year Plan (721)
- Minimum Age at Entry: 13 years
- Maximum Age at Entry: 45 years
- Policy Term: 25 years
- Premium Paying Term: 20 years
- Minimum Sum Assured: ₹2,00,000
- Maximum Sum Assured: No limit
Survival Benefits (Money Back)
The plan provides periodic survival benefits as follows:
- 15% of Sum Assured at the end of 5th year
- 15% of Sum Assured at the end of 10th year
- 15% of Sum Assured at the end of 15th year
- 15% of Sum Assured at the end of 20th year
Maturity Benefit
On survival till the end of the policy term, the policyholder receives: 40% of Basic Sum Assured + Accrued Bonuses + Final Additional Bonus (if any).
Death Benefit
In case of death during the policy term, the nominee receives the full Sum Assured along with bonuses, irrespective of the survival benefits already paid.
Optional Benefit Riders
- Accidental Death and Disability Benefit Rider (AD & DB): Provides additional protection in case of accidental death or disability.
- New Term Assurance Rider: Offers extra life cover over and above the base policy.
Surrender
The policy can be surrendered after paying premiums for the minimum required period, and the surrender value will be paid as per LIC rules.
Loan
Loan facility is available once the policy acquires surrender value.
Grace Period
A grace period of 30 days is allowed for premium payment.
Free Look Period
A 15-day free look period is available to review the policy.
LIC 721 Premium Calculation Example
Example using LIC 721 premium calculator for ₹20 lakh policy.
| Example Details (Age 30, SA ₹20,00,000, Term 25 Years) | |
|---|---|
| Premium Details | |
| Yearly Premium | ₹1,19,734 |
| Half-Yearly Premium | ₹60,509 |
| Quarterly Premium | ₹30,575 |
| Monthly Premium | ₹10,192 |
| Money Back Benefits | |
| Year 5 (15%) | ₹3,00,000 |
| Year 10 (15%) | ₹3,00,000 |
| Year 15 (15%) | ₹3,00,000 |
| Year 20 (15%) | ₹3,00,000 |
| Maturity Details | |
| Total Paid Premium | ₹23,94,680 |
| 40% Sum Assured | ₹8,00,000 |
| Bonus (Approx) | ₹20,50,000 |
| FAB (Approx) | ₹4,50,000 |
| Total Maturity | ₹33,00,000 |
| Total Benefits Received | ₹45,00,000 |
Bonus & FAB are indicative and based on recent LIC declared rates.